The Europe and ASEAN frozen food market, valued at US$ 101.24 Bn in 2022, is expected to experience significant growth, reaching US$ 194.62 Bn by 2030 at a CAGR of 8.98%. The market's growth trajectory is marked by an expanding range of product offerings and evolving consumer preferences.Europe and ASEAN Frozen Food Market: Scaling New Heights with Projected US$ 194.62 Bn Value by 2030
Growth Influencers:
A key driver for market growth is the increasing Foreign Direct Investment (FDI) in developing countries, which is boosting the food processing industry and retail markets. However, the market faces challenges due to a rising preference for natural and fresh food products over frozen alternatives. The shift in consumer behavior towards healthier and more natural diets could potentially restrain the growth of the frozen food sector.Segment Overview:
The market is diverse, encompassing a range of product types, including fruits, vegetables, dairy products, meat & poultry (holding over 23% market share in 2022), seafood, bakery products, soups, and ready meals - the latter showing the fastest growth at a CAGR of 9.83%. Retail channels, particularly online sales and supermarkets/hypermarkets, are the fastest-growing distribution channels, highlighting the increasing consumer reliance on convenient shopping options. The enterprise sale segment, encompassing B2B sales in sectors like HoReCa and travel, also presents significant growth opportunities.By Product Type
- Fruits
- Seasonal
- Regular
- Vegetables
- Peas
- Corn
- Potatoes
- Others
- Dairy Products
- Milk
- Butter
- Cheese
- Others
- Meat & Poultry
- Red Meat
- Pork Meat
- Poultry Meat
- Seafood
- Bakery Products
- Bread
- Pizza Crust
- Cakes & Pastries
- Others
- Soups
- Ready Meals
- Dumplings
- Rice based
- Italian (Pastas)
- Indian
- Korean
- Chinese (Excluding Dumplings)
- Mexican
- Others
- Others
By Distribution Channel
- Retail
- Online
- Supermarket/ Hypermarket
- Convenience Stores/ Standalone Stores
- Enterprise Sale (B2B
- HoReCa
- Travel (Railway/ Airline/ Others)
- Educational Institutes
- Food Processing Industry
Regional Overview:
Europe is the dominant region in the market, boasting a revenue of US$ 98 Bn in 2022, projected to reach US$ 180 Bn by 2030. The European market is characterized by a range of countries including the UK, Germany, France, Italy, and Spain, each contributing to the region's dominant position. The ASEAN market, including countries like Indonesia, Malaysia, Thailand, and Vietnam, also plays a crucial role in the market dynamics.By Region
Europe
- UK
- Germany
- France
- Italy
- Spain
- Poland
- Russia
- Belgium
- Switzerland
- Netherlands
- Denmark
- Iceland
- Finland
- Norway
- Rest of Europe
- ASEAN
- Indonesia
- Malaysia
- Thailand
- Vietnam
- Singapore
- Myanmar
- Philippines
- Cambodia
- Rest of ASEAN
Company Profile:
The market is marked by the presence of major players such as Normad Foods Europe Limited, FRoSTA AG, General Mills Inc., Ajinomoto Co., Inc., and others. collectively major players holding close to 62% market share. These companies are pivotal in shaping the market through innovation and expansion strategies.Industry Outlook:
The industry outlook involves a detailed analysis of consumer buying behavior, examining aspects like product preference, cuisine choice, purchase channels, popular brands, and purchase frequency, segmented further by demographics such as income, age, gender, and lifestyle.Report Insights:
- The Europe and ASEAN frozen food market is set to reach US$ 194.62 Bn by 2030.
- Increasing FDI in developing countries is a major driver.
- The retail channel, particularly online sales, is witnessing rapid growth.
- Europe leads the market, with significant contributions from ASEAN countries.
Questions to be Answered:
- What are the key factors driving the Europe and ASEAN frozen food market?
- Which product segments are witnessing the highest growth?
- How are different regions contributing to the market dynamics?
- What consumer trends are influencing market growth?
Table of Contents
Chapter 1. Research Framework
Chapter 2. Research Methodology
Chapter 4. Europe and ASEAN Frozen Food Market Overview
Chapter 5. Europe and ASEAN Frozen Food Market Analysis, By Product Type
Chapter 6. Europe and ASEAN Frozen Food Market Analysis, By Distribution Channel
Chapter 8. Europe Frozen Food Market Analysis
Chapter 9. ASEAN Frozen Food Market Analysis
Chapter 10. Vietnam Frozen Food Market Analysis
Chapter 11. Thailand Frozen Food Market Analysis
Chapter 12. Company Profile (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Business Strategy Outlook)
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- A.P. Frozen Foods Co., Ltd
- Ajinomoto Co., Inc
- Associated British Foods PLC
- APITOON ENTERPRISE INDUSTRY CO., LTD.
- Cargill, Incorporated
- Dr. Oetker
- Frosta AG
- CJ Foods
- ConAgra Brands, Inc.
- General Mills Inc.
- Grupo Bimbo S.A.B. De C.V
- Grupo Bimbo
- Kellogg Company
- Lantmannen Unibake International
- Maruha Nichiro Holding Inc.
- Mccain Foods Limited
- Nestle SA
- NH Foods Ltd.
- Nichirei Corporation
- Nippon Suisan
- The Kraft Heinz Company
- Tyson Foods, Inc.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 242 |
| Published | November 2023 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value ( USD | $ 101.24 Billion |
| Forecasted Market Value ( USD | $ 194.62 Billion |
| Compound Annual Growth Rate | 8.9% |
| Regions Covered | Asia Pacific, Europe |
